Thursday, June 6, 2013

30-Year-Mortgage Rate Highest In Over A Year

Mortgage rates crossed the 4 percent mark for the first time in 13 months, reaching the highest level since April 2012, according to's weekly national survey.  Mortgage rates have increased sharply on concerns that the Federal Reserve will begin withdrawing the $85 billion of monthly purchases of mortgage backed securities.

Mortgage rates increased for a fifth consecutive week, with the benchmark 30-year fixed mortgage rate climbing to 4.1 percent.  The average 30-year fixed mortgage has an average of 0.3 discount and origination points. 

The average 15-year fixed mortgage increased to 3.28 percent, while the larger jumbo 30-year fixed mortgage rate is now at 4.27 percent.  Adjustable rate mortgages bounded higher also, with rates hitting the highest levels since last summer.  

The average 5-year adjustable rate is now 2.93 percent, a level last seen in August of last year, and the 10-year ARM is at 3.48 percent, the highest since June of last year.  

The last time mortgage rates were above 5 percent was Apr. 2011.  At the time, the average 30-year fixed rate was 5.07 percent, meaning a $200,000 loan would have carried a monthly payment of $1,082.22.  With the average rate currently at 4.1 percent, the monthly payment for the same size loan would be $966.40, a difference of $116 per month for anyone refinancing now.

30-year fixed: 4.10% -- up from 3.99% last week (avg. points: 0.3)
15-year fixed: 3.28% -- up from 3.21% last week (avg. points: 0.26)
5/1 ARM: 2.93% -- up from 2.81% last week (avg. points: 0.25)


Wednesday, June 5, 2013

Chrysler Rejects Safety Recall Request For Jeeps

Chrysler has rejected the National Highway Traffic Safety Administration's request that the auto maker recall 1993-2004 Jeep Grand Cherokee and 2002-2007 Jeep Liberty models.

In an ongoing dispute between Chrysler and the NHTSA, the federal safety agency maintains that those models are more prone to fuel leaks and fires following a collision.  The recall would encompass approximately 2.7 million vehicles.

However, Chrysler said in a statement that it:

"...has been working and sharing data with the Agency on this issue since September 2010. The company does not agree with NHTSA's conclusions and does not intend to recall the vehicles cited in the investigation. The subject vehicles are safe and are not defective... "

Chrysler added that it believes the NHTSA's initial conclusions are based on an incomplete analysis and that Chrysler's own analysis shows the incidents, which are the focus of the request, occur less than once for every million years of vehicle operation.

"The safety of drivers and passengers has long been the first priority for Chrysler brands and that commitment remains steadfast," said Sergio Marchionne, Chairman and CEO of Chrysler Group LLC.  "The company stands behind the quality of its vehicles.  All of us remain committed to continue working with NHTSA to provide information confirming the safety of these vehicles."

Chrysler also pointed out that it conducts voluntary recalls when the company believes they are warranted, and in most cases, before any notice or investigation request from NHTSA.

Ford Recalls 390,783 Cars and SUVs

Ford is recalling certain model year 2013 Explorer, Taurus, Flex, Fusion, Police Interceptor Sedan and Police Interceptor Utility vehicles; and certain model year 2013 Lincoln MKS, MKT, and MKZ vehicles. In the affected vehicles, the fuel delivery module may develop a crack, allowing fuel to leak. 

A fuel leak in the presence of an ignition source may result in a fire.  

Ford will notify owners, and dealers will replace the fuel delivery module, free of charge. The recall is expected to begin on July 15, 2013. Owners may contact Ford Motor Company Customer Relationship Center at 1-866-436-7332. Ford's recall campaign number is 13S04.

Toyota Recalls 87,000 Prius and Lexus Cars

Toyota Motor Sales, U.S.A., Inc., today announced that it will conduct a voluntary safety recall involving approximately 87,000 model year 2010 Toyota Prius and Lexus HS 250h vehicles.

The involved vehicles are equipped with a brake pressure accumulator that may develop a fatigue crack on an internal part due to vibration.  Toyota has had no reports of any accidents or injuries associated with this condition.

Owners of vehicles subject to this recall will receive a notification by first class mail.  The recall remedy will involve inspection of the brake booster pump assembly to see if it is equipped with an involved accumulator.  If so, the dealer will replace the brake booster pump assembly with an improved one at no cost to the customer.

Toyota owners can call 1-800-331-4331 and Lexus owners can call 1-800-255-3987 for more information.

Monday, June 3, 2013

Brevard Workforce To Close On Fridays

BREVARD COUNTY, Florida - Brevard Workforce, the local area governmental authority on workforce development, announced new center hours beginning July 1, 2013. 

The reduction in hours is due to the State of Florida’s 21% funding cut to the workforce board statewide for the program year 2013-2014 following several workforce spending scandals like the Central Florida Workforce incident where $73,000 was spent on super hero capes for job seekers and other non-essential items.

In response to these budget cuts, three Brevard Workforce Career Centers and workforce offices, in Titusville, Rockledge and Palm Bay, will be open to the public, Monday through Thursday from 9:00 a.m. until 6:30 p.m. and will be closed on Fridays.  This schedule change is a pilot program that Brevard Workforce will implement on July 1, 2013.

“The adjusted hours are expected to result in improved staff work flow. This will allow Brevard Workforce to increase its focus on recruiting qualified talent for businesses,” explained Brevard Workforce president Lisa Rice in a press release. “For job seekers, the new evening hours will be a help to those with small children or caregiver responsibilities and to those who can best visit a Career Center after normal business hours,” Rice added.

The change in schedule will be monitored closely by Brevard Workforce for cost savings and expected improvements including an increase in qualified candidate referrals and job placement rates.

Brevard County employers and Human Resource officers can also post jobs for free on Brevard Times.


IRS Employees Make Line Dancing Video On Taxpayer's Dime

Authorities Monitor Social Media For Florida Food Stamp Fraud

Florida Unemployment Rate Drops To 7.2%, Brevard 7.3%

Florida Mass Layoffs Announced In May

Unemployment Benefit Cuts Coming To Florida

Brevard County Job Openings

Sunday, June 2, 2013

Merritt Island Company's Stock Jumps 31% On Friday

MERRITT ISLAND, Florida -- Alternative Energy Partners, Inc. (OTCBB: AEGY), a green energy company located on Courtney Parkway that was founded in 2008, saw its stock price jump $31.25% on Friday.

The penny stock with a market cap of $450,701 held steady at $.001 per share for most of 2013, but then saw some volatility to the upside in May.  The stock price volatility began just days before, and the weeks following, the resignation of the company's Director, Michael Gelman on May 17, 2013.  Gelman was replaced by Mario Barrera as the company's Director, according to documents filed with the Securities and Exchange Commission.

The stock opened at $.0016 and closed at $.0022 on Friday.

Florida Mass Layoffs Announced In May

Below are the large Florida job losses announced by companies pursuant to the WARN Act during the month of May 2013.

WARN provides that, with certain exceptions, employers of 100 or more workers must give at least 60 days' advance notice of a plant closing or mass layoff to affected workers or their representatives, to the State dislocated worker unit, and to the appropriate local government.

The Inn at LaPosada
3600 Masterpiece Way
Palm Beach Gardens, FL 33410
37Health Care and Social Assistance
The Nursing Center at LaPosada
3600 Masterpiece Way
Palm Beach Gardens, FL 33410
96Health Care and Social Assistance
DSE, Inc.
5201 S. Westshore Blvd.
Tampa, FL 33611
Sodexo, Inc.
Statewide, FL 00000
121Accommodation and Food Services
Days Inn Key West
3852 N. Roosevelt Blvd.
Key West, FL 33040
38Accommodation and Food Services
Lexington Hotel Key West
3850 N. Roosevelt Blvd.
Key West, FL 33040
59Accommodation and Food Services
Quality Inn Key West
3824 N. Roosevelt Blvd.
Key West, FL 33040
60Accommodation and Food Services
Evergreen International Aviation, Inc.
Tampa International Airport
Tampa, FL 33607
5/21/20135/24/201344Transportation and Warehousing
Liberty Medical Supply, Inc.
8881 and 8883 Liberty Lane
10400 S. Federal Hwy
Port St. Lucie, FL 34952
211Wholesale Trade
Pall Aerospace Corporation
4245 Evans Avenue
Fort Myers, FL 33901
FreshPoint North Florida
3100 Hilton Street
Jacksonville, FL 32209
79Wholesale Trade
8415 South Park Circle
Building 400
Orlando, FL 32819
Quincy Joist
520 S. Virginia Street
Quincy, FL 32351
ASE, Inc.
4890 W. Kennedy Boulevard
Suite 475
Tampa, FL 33609
57Professional, Scientific, and Technical Services
Crown Global Services, Corp.
Miami Int'l Airport Term. G
3rd Fl - Ste. G3311
Miami, FL 33102
160Transportation and Warehousing
791 Park of Commerce Blvd.
Suite 100
Boca Raton, FL 33487
75Professional, Scientific, and Technical Services
East Coast Repair and Fabrication, LLC
1890 Mealy Street
Atlantic Beach, FL 32233
Northrop Grumman Technical Services, Inc
AFCEC Program - Tyndall AFB
139 Barnes Drive
Panama City, FL 32403
76Transportation and Warehousing
The Shelborne South Beach Hotel
1801 Collins Avenue
Miami Beach, FL 33139
90Accommodation and Food Services